Africa Growth Prospects Are Key Attraction To Gulf Investors

While there have been some doubts whether African countries can maintain the pace of growth, Ernst & Young believes that 14 years of growth has not been a "flash in the pan" and that the trend will continue. EY expects Africa's combined GDP to hit USD 3 trillion by 2018, compared to just over USD 2 trillion currently.

Many Gulf businesses are well aware of Africa's promise.

Dubai's Emirates airline has emerged as the de facto 'national' airline of Sub-Saharan Africa, offering 198 flights a week to 22 destinations, while Abu Dhabi's Etihad Airways serves 11 destinations.

Logistics firm Aramex has been focused on expanding in Africa and said in January it would look to acquire firms in South Africa and east Africa.

Abraaj Capital, a major private equity investor in emerging markets, has been on the hunt in Africa in recent years, picking up stakes this year in Morocco's chocolate manufacturer Kool Food, and in Liberty Star Consumer Holdings, one of the largest unlisted food and personal care manufacturers in South Africa. Read More...

Dozens Volunteer For Ebola Test Vaccine

The world's most popular virus at the moment, Ebola,  seems to have touched the hearts of many as researchers try to find a vaccine in a bid to control the outbreak. GlaxoSmithKline (NYSE:GSK), (LSE:GSK) $GSK, has been working on several Ebola vaccine products in a bid to cut the spread of the deadly virus.

According to reports, the U.K -based pharmaceuticals company may have found a product that is now ready to test on healthy human beings. The research team is looking for 120 volunteers for the test program and reports indicate that more than 50 have already volunteered.

The city of Lausanne, Switzerland  will host the test program for GlaxoSmithKline product in what would be the largest study for leading experimental vaccine in fight against Ebola.

While reports indicate that a majority of the volunteers are mainly doctors and medical students, the fact that some people are willing to become test subjects in what could possibly emerge to be a death ticket shows that at last, scientists could be making a major milestone towards fighting Ebola.

World Health Organization (WHO) predicts that, if kept unchecked, Ebola could strike as many as 10,000 people per week by December this year. However, according to Dr. Blaise Genton, a professor at the University Hospital of Lausanne, who has worked on more than 20 vaccine trials, there could be some progress towards finding a vaccine. He believes that the current string of vaccine to be tested is very different from the others, and expressed a great deal of optimism on the product.

"We need to go very fast so that we may have something more than what we have now in terms of preventive measures", Genton Said. A shipment of vials of the vaccine is expected to arrive today or tomorrow (Thursday), enabling inoculations to begin this week. Unconfirmed reports suggest that GlaxoSmithKline's experimental shot is based on a live version of a genetically modified chimpanzee virus that contains an Ebola gene.

Meanwhile, the volunteers from the broader community will receive $845 or 800 Swiss Francs as compensation for time spent and travel expenses.

Sub-Saharan Africa Debt-GDP Ratios Remain Impressive, But It's Getting Worse For Some Countries

Sub-Saharan Africa Debt-GDP Ratios Remain Impressive, But It's Getting Worse For Some Countries.

According to a report published by IMF, the debt-GDP ratios in most sub-Saharan Africa countries remains low, but a few countries have experienced an increase in the rate of debt-GDP, thereby putting them in potential financial distress in the long-term.

Central Africa Republic and Malawi have the biggest debt-GDP ratios at more than 20 percent and more than 15 percent respectively, as illustrated in this 2012-2013 chart. (courtesy of IMF)

The high levels of debt-GDP ratio are putting long-term debt sustainability and macroeconomic stability at risk. However, a revision of the composition of primary spending could go a long way towards reducing this type of risk.

Generally, Africa remains one of the most promising in terms of economic growth prospects, with average annual growth estimates currently pegged at about 5.5 percent through 2014-2015. This means that it should remain attractive to investors for the foreseeable future.

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